real debt relief
Are there any real and trust worthy debt Relief or hard ship companies out there you hear so much about scams?
Most debt relief companies will advise you to stop paying your credit card debt (or any debt that is non-secured like a credit card) and wait for the collection letters to roll in. They in turn will work with these collection agencies to settle your debt for somewhere in the neighborhood of 40% to 60% of the original amount. Does it work? Well, it depends on your long term goals. It can work if a) you are diligent about putting aside money to later be used to negotiate your debt (some even offer special savings accounts) b) you are strong enough to deal with the MANY letters and calls you will get from collectors and c) you are in a position to take a serious hit on your credit for 3-5 years. Most of these companies want you to claim a hardship (i.e. I lost my job or I’ve lost hours at work, etc.) but almost 100% will take you on if you have enough debt for them to make money. How do they make money? By charging a fee for their services and by selling you on the fact that even with a fee, you will end up not paying about half the debt you currently owe. I know a lot about this since I am in the middle of the process. I looked into several companies, but ended up going with one called Debt Settlement America or DSA (http://www.debt-settlement-america.com) and they have done a pretty good job so far (two credit card debts paid off so far with another one coming up soon) and no, I don’t work for them. No, I don’t get anything by mentioning their name. I know there are other companies out there that do the same thing. I just wanted to share what I know! Good luck!!
